Income Generation Strategies: High-Yield Mutual Funds for 2024

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In 2024, building wealth is an objective that many aspire to achieve. In the current world of investments, one of the most powerful tools that help individuals grow their money steadily over time is mutual funds. 

These investment instruments offer a diversified and professionally managed approach to investing, making them an attractive option for both beginners as well as professionals. Once you begin investing in the best mutual funds, you are in for a profitable return in the long run.

Moreover, long gone are the days when people actually had to visit financial institutions in order to initiate such investments. Nowadays, it is just you, your internet-enabled smartphone and the right application installed on it. 

What are mutual funds? What are the top pros of investing in them?

As the term implies, these are investment vehicles that basically tend to pool money from a number of investors to create a diversified portfolio of stocks, bonds, and other securities. Once you invest your hard-earned money, you need not worry as professional fund managers manage them and offer the opportunity to invest in a broad range of assets, even with relatively modest amounts of capital. 

(Tip: If your aim is to save on taxes, then go for tax saver mutual funds.)

Here, investors purchase shares in the fund, and its value is determined by the performance of its underlying assets. 

  • Diversification

As this financial instrument offers diversification, it spreads the risk. This is done by simply investing in a variety of securities, such as stocks and bonds, from different sectors and industries. So, if, by any chance, a single investment performs poorly, it mitigates the impact and enhances the overall stability of the portfolio. 

  • Liquidity

It offers complete liquidity to investors. This means one can buy or sell shares on any business day at the current net asset value (NAV). This kind of flexibility and easability ensures that investors can access their money when needed, providing a level of liquidity that may be tough to achieve with other types of investments.  

  • Affordable and Accessible

One can even start with relatively small amounts of money while planning to invest in the best mutual fund to invest today. This kind of accessibility is quite advantageous for individuals who may not have significant capital to create a diversified portfolio independently. 

Which are the best and high-yield mutual funds for 2024? How to invest in them?

  1. Canara Robeco Bluechip Equity Fund
  2. Mirae Asset Large Cap Fund
  3. Parag Parikh Flexi Cap Fund
  4. UTI Flexi Cap Fund
  5. Axis Midcap Fund
  6. Kotak Emerging Equity Fund
  7. Axis Small Cap Fund
  8. SBI Small Cap Fund
  9. SBI Equity Hybrid Fund
  10. Mirae Asset Hybrid Equity Fund

When it comes to how to initiate these investments, you need to download the right application, and there is no need to move out of your comfort zone. Personally speaking, I’ve been using the ‘Bajaj Finserv’ application for quite a long time for all kinds of investments and believe me, it is one of the best ones I’ve used so far. It is simple, convenient and user-friendly. 


All in all, the overall outlook image for income generation this year invites all kinds of investors to explore the unique advantages presented by high-yield mutual funds. So, if you are planning to invest and generate wealth in the long run, best mutual funds are the way to go. With just a few taps on your device, you are more than good to go! 

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